hmack1998 t1_j56nqkq wrote
Reply to comment by 3720-To-One in Five-building residential and life-sciences complex with a museum could rise on long vacant parcel on Tremont Street across from police headquarters by rabblebowser
Lots because biotech is rapidly expanding and new companies are needing more and more space
88stardestroyer t1_j56twc5 wrote
Are you stuck in 2021? Biotech is certainly not crashing down, but some R&D had been fired and many large companies have hiring freezes in place
RoaminRonin13 t1_j5726br wrote
Sure, but some others are still looking for space.
The developers don’t want to spend money in 2023 unless there’s a tenant, and plenty of companies are tightening their belts or seeing investment streams dry up. But others, like some institutional tenants, are planning for 2024 and beyond in terms of their space needs.
I don’t disagree with you that the book may be over, but you’re right that it isn’t crashing either. Life-science has dramatically cooled in just the last 4-6 months. We’ll probably not have a good sense of how things look until 6+ months from now.
88stardestroyer t1_j576459 wrote
Mostly agree. For me, there won't be expansion in this sector, like many others, until the FED cuts interest rates. Could be well into 2024
RoaminRonin13 t1_j57tppv wrote
Yeah, this is the safe / probable bet.
3720-To-One t1_j56ph5a wrote
But of course NIMBYs won’t let enough housing be built.
BabyLegsOShanahan t1_j56pi02 wrote
But so many are empty.
hmack1998 t1_j56t666 wrote
What empty lab space is in Boston/Cambridge/Somerville?
BabyLegsOShanahan t1_j56uhlb wrote
Assembly Row for one and plenty in downtown Boston. My company was looking to get out of their lease in assembly but the market sucks, no one is looking to buy/rent.
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